FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
BMP Sunstone CORP [ BJGP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/24/2011 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 02/24/2011 | D | 17,385(1) | D | $10 | 0 | D | |||
Common Stock | 02/24/2011 | D | 1,154,602(1) | D | $10 | 0 | I | By TVI Corp.(2) | ||
Common Stock | 02/24/2011 | D | 10,000(1) | D | $10 | 0 | I | By HTH Limited Partnership(3) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock option (right to buy) | $3.84 | 02/24/2011 | D | 50,000 | (4) | 10/27/2019 | Common Stock | 50,000 | $6.16(5) | 0 | D | ||||
Warrant for Common Stock | $9.37 | 02/24/2011 | D | 21,288 | 08/22/2007 | 08/22/2012 | Common Stock | 21,288 | $0.63(6) | 0 | I | By TVI Corp.(2) | |||
12.5% March Cash Secured Convertible Note due July 1, 2011 | $3 | 02/24/2011(7) | D | 16,666 | 05/15/2009 | 07/01/2011 | Common Stock | 16,666 | (7) | 0 | I | By HTH Limited Partnership(3) | |||
12.5% March Cash Secured Convertible Note due July 1, 2011 | $3 | 02/24/2011(7) | D | 166,666 | 05/15/2009 | 07/01/2011 | Common Stock | 166,666 | (7) | 0 | I | By TVI Corp.(2) | |||
12.5% Secured Convertible Note due July 1, 2011 | $3 | 02/24/2011(8) | D | 416,666 | 05/15/2009 | 07/01/2011 | Common Stock | 416,666 | (8) | 0 | I | By TVI Corp.(2) | |||
12.5% March Cash Secured Convertible Note due July 1, 2011 | $3 | 02/24/2011(7) | D | 166,666 | 05/15/2009 | 07/01/2011 | Common Stock | 166,666 | (7) | 0 | I | By Tinkham Veale II Revocable Trust(9) |
Explanation of Responses: |
1. Disposed of upon the merger (the "Merger") consummated pursuant to the Agreement and Plan of Merger, dated as of October 28, 2010, as amended on November 22, 2010, among the issuer, sanofi-aventis and Star 2010, Inc. (the "Merger Agreement"), in exchange for $10.00 per share. |
2. Mr. Harrington has dual voting and investment control over securities held by TVI Corp. |
3. Mr. Harrington has dual voting and investment control over securities held by HTH Limited Partnership. |
4. Pursuant to the Merger Agreement, all options became fully vested upon the consummation of the merger. |
5. Pursuant to the Merger Agreement, the option was converted into the right to receive a cash payment equal to the product of (x) the total number of shares of issuer common stock subject to the option multiplied by (y) the excess of the merger consideration (or $10.00 per share) over the exercise price per share of issuer common stock subject to the option. |
6. Pursuant to the Merger Agreement, the warrant was canceled in exchange for a lump sum cash payment equal to (i) the product of (A) the number of shares of issuer common stock subject to the warrant and (B) the merger consideration (or $10.00 per share), minus (ii) the product of (A) the number of shares of issuer common stock subject to the warrant and (B) the per share exercise price of the warrant. |
7. Upon the consummation of the Merger, the 12.5% March Cash Secured Convertible Notes due July 1, 2011 are no longer convertible into shares of issuer common stock, but instead represent the right to receive an amount equal to (i) the face amount of the note plus all accrued but unpaid interest payable pursuant to the note, divided by (ii) the conversion price of $3.00, multiplied by (iii) the merger consideration (or $10.00 per share). |
8. Upon the consummation of the Merger, the 12.5% Secured Convertible Notes due July 1, 2011 are no longer convertible into shares of issuer common stock, but instead represent the right to receive an amount equal to (i) the face amount of the note plus all accrued but unpaid interest payable pursuant to the note, divided by (ii) the conversion price of $3.00, multiplied by (iii) the merger consideration (or $10.00 per share). |
9. Mr. Harrington has dual voting and investment control over securities held by Tinkham Veale II Revocable Trust. |
Fred M. Powell, By Power of Attorney | 03/02/2011 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |